Bharat Forge’s step-down subsidiary JS Auto Cast Foundry will acquire Indo Shell Mould Ltd’s SEZ unit at SIPCOT, Erode in Tamil Nadu, the company said without disclosing the amount of the deal. According to the Bharat Forge statement, JS Auto Cast Foundry India has entered into a business transfer agreement with Indo Shell Mould Ltd.
“This acquisition strengthens JS Auto’s presence in the castings sector, expands the product offering and client base, and expands the company’s footprint in the Indian manufacturing landscape,” the company said.
The SEZ Unit, with a capacity of 42,000 MTPA, supplies fully machined critical castings to marquee customers in the automotive industry and will operate as JS Auto’s third manufacturing unit, bringing the company’s total capacity to 1,42,000 MTPA, according to the company, adding that the acquisition will be EPS accretive from the first year.